It isn’t easy when you are trying budgeting when you don’t have enough money.
This is a stressful and worrying time, you need to make the right choices for you and your circumstances to ensure that you don’t make the situation worse.
How can you budget when you have less coming in than going out?
You must take control of the situation now! You don’t want to make it worse in the coming months!
Budgeting When You Don’t Have Enough Money
Many people are facing this situation on a daily basis, we live in a very difficult economic climate and often the things we need, come at a price.
Very often items, which aren’t essential are on credit; this will take a toll on the financial burden that many people are experiencing.
If you have debt then it is important that you are paying the debt off!
But talking to the company might help to reduce the monthly payments.
This is difficult to do because you are asking for help, but many companies prefer you to ask for help rather than not paying the debt.
If you don’t pay a debt on time, the chances of fees and interest on the debt is high, this will mean that you owe even more money.
In many cases, borrowing money is the last resort; it is not an easy option!
Budget Your Money
If the credit company allows you to reduce your payments this will help with the money and having more to go to the various categories in your budget.
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Have the right supplies that you want to work with, whether paper or electronic based!
Reading up on budgeting is a great way to learn how to budget, you can’t go wrong with Dave Ramsey and his amazing books on the subject!
Budgeting Tips
Try looking at the areas in your budget where you can possibly cut back when you don’t have enough money.
Groceries are the top of any list, it is possible to cut back on some expenses, but there does become a point where you can’t spend any less.
Fuel, obviously you need this if you travel to work, but if you are just using it as a means to get around you might want to consider reducing the number of outings to save the cost of fuel.
Entertaining is an area of your budget that whilst it is important to have some fun if you haven’t enough to go round then you must consider cutting this area. Try to find things that you can do that are free!
Gym memberships are difficult to get out of you often you sign a contract. However, if you can get out of spending money on the gym this is a great item to cut.
You must not cut your payments to your utilities, as you need these to live. However, it might be possible to save money by switching supplier.
If you don’t pay your mortgage or rent you are at risk of losing your home, talk to those companies and see if they can do anything to help you. However, be warned if you tell a company you are having difficulty paying they might not offer you new products in the near future, as the conversation will go on your file.
How To Budget Your Money
It is difficult to make your money stretch, especially if you don’t have enough for all the bills you pay.
However, there are ways that you can make your money go further especially when you worry if you have enough money to pay your bills.
It is important that you try not to take out more debt; this will make it more difficult.
However, there are some exceptions; you might be able to consolidate your debt. This is wrapping your debt into a new debt but only do this if the payments work out cheaper, after all, you don’t want to pay more money.
The most important aspect is the amount of money that you pay and the length of term you are paying this over. Often the terms increase so the monthly payments come down.
This means you will pay the debt for long.
Help Me Budget
Understanding budgeting and getting your debt under control isn’t always easy, this is one reason why I recommend books by David Ramsey, he understands so much and his books are great!
Finding ways to cut areas of your budget is key, the best option for cutting your budget is looking at your grocery spending!
Cutting Your Grocery Budget
This is not easy, there are tips and tricks that you can use to fill out a meal, making it more economical in the end, but not reducing the taste.
I often did this when my children were younger, I would use less meat and increase the number of vegetables that I included in a meal. Items like beans are cheap and they are great for bulking up a meal. This made the meal healthier too!
It is difficult for some people who are short on time; however, cooking from scratch is cheaper.
The added benefit of knowing what you are eating and this can help with allergies too.
Finding Help Budgeting Your Money
It is so important to learn to budget.
If you just don’t know what to do, there are charities that can help to resolve the issue and help you get back on track.
However, there are also companies that claim to help too.
I am not convinced that this is a way forward, after all, you have to pay them too and this is adding to your expenses.
Always think carefully before signing any contract, especially when it comes to money; you work hard for your money, make sure you are able to manage it properly and make it work for you!
Therefore, if you are struggling to get your budget to stretch as far as you need, there are options that you can take.
Try cutting back in areas that are more moveable, like your groceries. However, you might need to talk to your creditors, to see if you can negotiate a cheaper monthly payment.
If you are still struggling, it is important that you seek help and advice to prevent it from getting worse.
It’s a scary time when you don’t have enough money, but hiding from the situation will only make things worse, face the problem and the fears and get your budget back under control.
I'm a qualified organizer and I've kept a clean home for over 25 years. I worked in a bank for a few years and saw first-hand the importance of budgeting. Join me as I write about organizing and cleaning your home and life.
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